Trump is considering ending federal income taxes and replacing them with tariffs, resembling the pre-1913 system before income taxes began.

Sharing is Caring!

If Trump does this, he will go down in American history as the greatest President since George Washington.

See also  CNN Admits Tim Walz Lost the Debate: “Vance is a Much More Experienced Debater!”... His favorability Rating Rises To +2 After Debate, Compared To -14 Before.

Before the federal income tax was established in 1913, the U.S. government primarily relied on tariffs and excise taxes to generate revenue. These taxes, mainly imposed on imported goods and certain domestic products, were insufficient for addressing the nation’s growing financial needs. The introduction of the federal income tax aimed to create a more stable and equitable revenue stream, shifting the burden from consumption-based taxes to income-based taxation, which allowed the government to meet the demands of a rapidly modernizing economy.

See also  Ackman endorses Trump, praises Musk for government efficiency, and recognizes RFK Jr.'s health focus.

Sources:

h/t EvilKoopa

Views: 203

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.